Chapter 4 Ramsey

2. Asset an asset that loses value over time, such as a car that’s worth less every year
4. a moneylender who charges extremely high rates of interest, typically under illegal conditions.
7. a thing that is borrowed, especially a sum of money that is expected to be paid back with interest.
8. something owned (that has value) offered as security on a debt; if the debt is not repaid as agreed, the item is forfeited to the lender
10. total value of everything you own minus all your debts
14. the increase in value of a home over time the difference between the amount owed and what the home could be sold for
15. credit when the lender doesn’t require you to put down a security deposit or collateral.

1. credit that automatically renews whenever a payment is made to reduce the debt
3. Credit a loan for a fixed amount of money that‘s paid back in monthly installments
5. credit when you have to put down a security deposit or use something as collateral.
6. Lending a lender who uses deceptive, unfair, or fraudulent practices on borrowers who are desperate for cash
9. a legal claim against (or right to own) an asset until the debt (loan) is repaid
11. Asset an asset that increases in value over time
12. failure to repay a loan on time
13. an estimate of income and expenditure for a set period of time.